Cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2012
WE ARE RUNNING A CAFE AND RESTAURANT AT SEVERAL OUTLETS. WE ARE PAYING SERVICE TAX ON RENT (CHARGED BY OWNER) OF OUTLETS. WE ALSO PROVIDE OUTDOOR CATERING SERVICES. ON 50% OF AMT WE CHARGE SERVICE TAX. CAN WE CLAIM CENVAT CREDIT ON RENT AG THIS COLLECTION?
CA CS Amit S. Kedia
(Expert)
17 April 2012
No, you are not allowed to take cenvat credit.
Even if you are liable for ST on 100% value, cenvat credit of ST paid on rent is not allowed.
Even if you are liable for ST on 100% value, cenvat credit of ST paid on rent is not allowed.
CA CS Amit S. Kedia
(Expert)
17 April 2012
Dear Author,
The percentage on which service tax is to be charged, changed from 50% to 60% but the effective date is yet to be notified.
No cenvat credit is allowed in your case.
The percentage on which service tax is to be charged, changed from 50% to 60% but the effective date is yet to be notified.
No cenvat credit is allowed in your case.
CA Nikhil Jhanwar
(Expert)
17 April 2012
Dear Expert, May you plese clarify why Credit is not available (supported with any provision/notification)
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